British American Tobacco (BAT) Zambia Managing Director Godfrey Machanzi says approximately K 200, 000 is lost annually in Illicit Tobacco Trading.
Mr Machanzi said illicit tobacco trading is affecting the interest of government revenue and competition for local legitimate tobacco product companies.
“It is not in the interest of government, it is not in the interest of Zambia for us to allow this to continue”, said Mr Machanzi.
The BAT Zambia Managing Director states that illicit tobacco trading has negatively affected BAT with an increase in losses it incurs because of the unfair competition resulting from illicit trade.
“The continued increase in illicit trade of tobacco will eventually lead to the closure of BAT in Zambia which will have a grave impact on the Zambian economy through loss of taxes and job losses for people employed by BAT”, he said.
Mr. Machanzi has implored government to setup better legislative laws in order to protect legal businesses aligned to achieve the Seventh National Development Plan (7NDP).
Mr. Machanzi has called on government to take action in curbing this negative vice to protect the interests of the country and this business venture for the growth of the country’s economy.